The Ministry of Mines and Energy (MinMinas) has confirmed that 18 companies -12 from the hydrocarbons industry- will participate in the second Extractive Industry Transparency Initiative (EITI) report which will cover income and payments made in 2014 and 2015.
Gran Tierra Energy (TSX:GTE) published its third quarter 2016 earnings, which saw the consolidation of its PetroLatina acquisition. A slipping realized oil price cut into its revenues while production stayed flat, but the firm is planning for organic growth with a three-year drilling program.
Mansarovar Energy executive president Harvinderjit Singh has made a couple of rounds with Colombian press to highlight the future of the Indian/Chinese owned firm, and said it plans to invest US$490M into its Colombian operation.
Pacific Energy (TSX:PEN) made a blockbuster announcement with the closure of its restructuring led by Catalyst, returning to the TSX and changing both the Board and executive suite.
In order to evaluate the size of the discovery made at its offshore Kronos-1 well, Anadarko (NYSE:APC) will start drilling its Purple Angel-1 well at the end of December.
Repsol’s (MSE:REP) Colombian director Gabino Lalinde talked about the company’s consolidation following its acquisition of Talisman last year, and said that it aims to grow its production in Colombia by 57% over five years to reach 40,000boed.
The USO said that it has started a review of its collective bargaining agreement with Ecopetrol (NYSE:EC), two years after signing the latest labor accord with the NOC, but made no mention of its plans to hold a company-wide strike.
Ecopetrol’s (NYSE:EC) 2016 competitive round will sell off around 20 smaller fields to outsider bidders, and a report from Huila unveils some of the local concerns that this plan is causing.
Equion President María Victoria Riaño believes that the firm has a better outlook as oil prices improve, but is concerned that the recent Constitutional Court decision on popular referendums and the subsoil could cause legal holes and put oil activity at risk.
Pacific E&P is advancing towards the close of its restructuring, and still holds a selection of E&P assets in Colombia, where its central focus will likely remain once the process is complete.
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